Barclays Maintains an 'Overweight' on Avago Technologies (AVGO); Prepped and Ready for iPhone 5

May 23, 2012 1:26 PM EDT
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Price: $191.08 +2.97%

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Barclays maintains an 'Overweight' on Avago Technologies (NASDAQ: AVGO) price target of $43.00.

Analyst, Blayne Curtis, said, "Avago reported an April quarter with inline revenue and better EPS. Guidance was soft as expected but management provided strong commentary for the October quarter in terms of revenue and capacity additions (see $25M-$50M upside to prior $200M FY12 capex forecast) supports our view of likely growing content in the upcoming iPhone 5 (Nasdaq: AAPL)."

"Our CY12 estimates move to $2,524M/$2.77 (from $2,523M/$2.69) and CY13 to $2,765M/$3.03 (from $2,796M/$3.01)."

For an analyst ratings summary and ratings history on Avago Technologies click here. For more ratings news on Avago Technologies click here.

Shares of Avago Technologies closed at $31.27 yesterday.

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